8,400 Shares in General Electric Company (GE) Acquired by Ashford Capital Management Inc.
Ashford Capital Management Inc. bought a new stake in General Electric Company (NYSE:GE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 8,400 shares of the conglomerate’s stock, valued at approximately $227,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ullmann Financial Group Inc. bought a new position in shares of General Electric in the 1st quarter worth $106,000. PHH Investments Ltd. boosted its position in shares of General Electric by 105.0% in the 1st quarter. PHH Investments Ltd. now owns 3,905 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 2,000 shares during the last quarter. Ffcm LLC bought a new position in shares of General Electric in the 2nd quarter worth $114,000. Corbenic Partners LLC boosted its position in shares of General Electric by 15.7% in the 2nd quarter. Corbenic Partners LLC now owns 5,340 shares of the conglomerate’s stock worth $144,000 after purchasing an additional 725 shares during the last quarter. Finally, Flaharty Asset Management LLC bought a new position in shares of General Electric in the 1st quarter worth $226,000. 55.74% of the stock is owned by institutional investors.
Shares of General Electric Company (NYSE GE) traded down $0.12 during trading on Friday, hitting $17.64. The stock had a trading volume of 48,545,800 shares, compared to its average volume of 45,339,004. The company has a market capitalization of $154,016.23, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 1.92 and a beta of 1.06. General Electric Company has a 12 month low of $17.46 and a 12 month high of $32.38. The company has a current ratio of 1.86, a quick ratio of 1.53 and a debt-to-equity ratio of 1.14.
General Electric (NYSE:GE) last issued its quarterly earnings results on Friday, October 20th. The conglomerate reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.20). The firm had revenue of $33.47 billion during the quarter, compared to the consensus estimate of $32.51 billion. General Electric had a net margin of 6.08% and a return on equity of 13.72%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. analysts expect that General Electric Company will post 1.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 25th. Stockholders of record on Wednesday, December 27th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, December 26th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.72%. General Electric’s dividend payout ratio (DPR) is 120.00%.
GE has been the topic of several recent analyst reports. J P Morgan Chase & Co reduced their target price on General Electric from $19.00 to $17.00 and set an “underweight” rating on the stock in a report on Wednesday, November 1st. Bank of America upgraded General Electric from a “neutral” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Monday, October 23rd. Royal Bank of Canada set a $25.00 target price on General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. Citigroup set a $28.00 target price on General Electric and gave the stock a “buy” rating in a report on Monday, October 23rd. Finally, Morningstar reiterated a “buy” rating on shares of General Electric in a report on Tuesday, November 14th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $23.39.
In related news, Chairman John Leonard Flannery bought 60,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were acquired at an average price of $18.27 per share, with a total value of $1,096,200.00. Following the completion of the transaction, the chairman now owns 575,477 shares in the company, valued at $10,513,964.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Francisco Dsouza bought 55,000 shares of the stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average cost of $17.94 per share, for a total transaction of $986,700.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 120,500 shares of company stock worth $2,183,220. Corporate insiders own 0.36% of the company’s stock.
General Electric Profile
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